JSW Neo Energy bags 300 MW wind energy project

JSW Energy on Wednesday said its subsidiary JSW Neo Energy has bagged a 300 MW wind energy project from Solar Energy Corporation of India (SECI).

JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has received the letter of award (LoA) for a total wind capacity of 300 MW from Solar Energy Corporation of India Limited (SECI), JSW Energy said in a statement. The company bagged the project in a tariff-based competitive bids invited by SECI for setting up of 1,200 MW ISTS-connected wind power projects (Tranche – XII), it said.

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Subsequently the company’s total power generation portfolio increases to 7.3 GW, with renewable energy share amounting to 57 per cent, it stated. Prashant Jain, Joint Managing Director and CEO of JSW Energy, said in the statement, This is another step in our renewable led growth strategy and we will continue to contribute meaningfully in achieving India’s renewable and net-zero ambitions .

JSW Energy has set an ambitious target for a 50% reduction in its carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy. The company has set a target to reach 20 GW capacity by 2030, with the share of renewable energy increasing to 85%. JSW Neo Energy is a vehicle formed as a part of re-organisation of business to own all the renewable/green power generating assets.